1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Zarrin [17]
3 years ago
11

A company incurred the following costs associated with the purchase of a piece of land that it will use to re-build an office bu

ilding: Purchase price of the land $ 620,000 Sale of salvaged parts already on land $ 25,000 Demolition of the old building $ 23,000 Ground-breaking ceremony (food and supplies) $ 1,100 Land preparation and leveling $ 8,300 What amount should be recorded for the purchase of the land
Business
1 answer:
guajiro [1.7K]3 years ago
3 0

Answer:

$651,300

Explanation:

Cost of an item of property, plant and equipment comprises of purchase price and any cost directly attributable to bringing the asset to the location and condition for operation as intended by management.

<u>Calculation of the cost of  purchase of the land:</u>

Purchase price                            $ 620,000

Demolition of the old building      $ 23,000

Land preparation and leveling       $ 8,300

Cost of  purchase of the land       $651,300

You might be interested in
If 1200 dollars is invested at an annual interest rate r compounded monthly, the amount in the account at the end of 3 years is
9966 [12]

Answer:

a. When r = 4 percent, the rate of change is 22.10%.

b. When r = 7 percent, the rate of change is 41.76%.

Explanation:

Note: This question is not complete the required values of r is omitted. To complete the question, these values are therefore provided before answering the question as follows:

Find the rate of change of the amount A with respect to the rate r for the following values of r:

a. r = 4 percent

b. r = 7 percent

The explanation of the answer is now given as follows:

The A given is correctly stated as follows:

A = 1200 * (1 + ((1/12) * r))^60 ……………………….. (1)

Therefore, we have:

a. When r = 4 percent

Substituting r = 4% into equation (1), we have:

A = 1200 * (1 + ((1/12) * 4%))^60 = 1200 * 1.22099659394212 = 1465.20

Rate of change = (A - Amount invested) / Amount invested = (1465.20 - 1200) / 1200 = 0.2210, or 22.10%

Therefore, when r = 4 percent, the rate of change is 22.10%.

b. When r = 7 percent

Substituting r = 7% into equation (1), we have:

A = 1200 * (1 + ((1/12) * 7%))^60 = 1200 * 1.41762525961399 = 1701.15

Rate of change = (A - Amount invested) / Amount invested = (1701.15 - 1200) / 1200 = 0.4176, or 41.76%

Therefore, when r = 7 percent, the rate of change is 41.76%.

7 0
3 years ago
Benny the Barber owns a one-chair shop. At barber college, they told Benny that his customers would exhibit a Poisson arrival di
Vedmedyk [2.9K]
Idk this one sorrrrrrrrrrrrrrrrry
8 0
2 years ago
Help help buddies pelsss I’ll give points I need straightforward answer ASAP
Firlakuza [10]

Answer:

1

Explanation:

1 divided by 1 is 1

100% in number form is 1

4 0
2 years ago
Read 2 more answers
The next time you need to make a choice, your brain will use what what method?
Katarina [22]

Answer:

Imagine you have just flicked a lighter. If you don’t see the flame, you will naturally try a second time. If after the second attempt it does not strike a flame, you will repeat your action again and again until it does. Eventually, you’ll see the flame and you’ll know that your lighter works. But what if it doesn’t? How long are you going to flick the lighter until you decide to give up?

Our everyday life is full of such decision dilemmas and uncertainty. We constantly have to choose between options, whether we make the most ordinary decisions – should I continue flicking this lighter? – or life-changing choices – should I leave this relationship? We can either keep on doing what we are already used to do, or risk unexplored options that could turn out much more valuable.

Some people are naturally inclined to take more chances, while others prefer to hold on to what they know best. Yet being curious and explorative is fundamental for humans and animals to find out how best to harvest resources such as water, food or money. While looking at the Belém Tower – a symbol of Portugal’s great maritime discoveries – from my office window, I often wonder what drives people to explore the unknown and what goes on in their brains when weighing pros and cons for trying something new. To answer these questions, together with Dr. Zachary Mainen and his team of neuroscientists, we investigate how the brain deals with uncertainty when making decisions.

Explanation:

It is well known that the decision-making process results from communication between the prefrontal cortex (working memory) and hippocampus (long-term memory). However, there are other regions of the brain that play essential roles in making decisions, but their exact mechanisms of action still are unknown.

4 0
2 years ago
Which of the following errors, each considered individually, would cause the trial balance to be out of balance? A payment of $1
alukav5142 [94]

Answer:

A payment of $148 to a creditor was posted as a debit to Accounts Payable and a debit of $148 to Cash.

Explanation:

Even if the others are wrong, they by themselves wouldn´t cause the trial balance to be out of balance, because in the end they have similar of the same amount of money in debit and credit, the only one that would make the trial balance to be out of balance would be A payment of $148 to a creditor was posted as a debit to Accounts Payable and a debit of $148 to Cash.  because as you can see it has both transactions in the debit side, and when doing trail balances for every debit there is always a credit with the same amount.

8 0
3 years ago
Other questions:
  • According to management guru peter drucker, "the aim of marketing is to ________."
    14·1 answer
  • Which statement is true regarding the physical arrangements of an international negotiation setting? Multiple Choice In high-con
    10·1 answer
  • What is the only state whose capital city begins with the letter "f"?
    11·1 answer
  • On October 3, Karl Schickele, a carpenter, received a cash payment for services provided to a client. Karl paid his telephone bi
    8·1 answer
  • If a shortage exists in the market, the invisible hand will manipulate prices to maintain equilibrium by increasing prices and t
    11·1 answer
  • The general ledger of Vance Corporation as of December 31, 2020, includes the following accounts: Copyrights $30,000 Deposits wi
    14·1 answer
  • Given no cash leakage and zero excess reserves held by banks, if reserves increase by $8 billion and the required reserve ratio
    10·1 answer
  • Do you feel that there is a difference in the quality of a private brand versus a national brand? Why or why not?
    8·1 answer
  • Question 2 (5 points) Based on the following data, determine the amount of total assets, total liabilities, and net worth. Liqui
    10·1 answer
  • a company that reports a significant negative cash flow from investing activities due to the purchase of a building will most li
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!